@Tyler Warner If you have a good structural engineer, I would have them take a second look to make sure.

How did you structure the financing?

In particular, I'm thrown off because there is no structure on the lot to be renovated when dealing with wholesaling lots.

STR will still offer rental income and you will hopefully have a good CPA who will structure your schedule E correctly for standard deductions and showing a positive net rental. 

I KNOW a lot of you are going to be like “well that’s a very broad category”😆 I get what I’m trying to say is that, my mind is kind lost on how to structure what deductions under which label (very general) but what if it was for an “unusual” purchase.

However, I see 2 other critical roles missing one is a rock star CPA - to help guide me on the best way to move and frame out this company/money structure.

There's no formal partnership or payment structure, just a kind of deal by deal agreement we discuss.

Now, if the asset has a serious structural issue or if you discovered a significant number of down units not disclosed by the seller, then a retrade on price is appropriate.

I would say the 5,4,3,2,1 is most common on long term loans (10-30 year terms) but by far the worst structure would be yield maintenance rather than a step down.

Can anyone tell me the best way to structure a joint venture with a silent money partner?